Objectives and Key Results (OKRs) is a performance management framework that encourages companies to set, communicate, and monitor broad organizational objectives and results. A key result is a measurable result that is required to achieve the objective. It contains a metric with an initial value and a target value. Key results measure progress towards the goal as a sign that shows how close you are to your goal.
The key results are the measures and milestones that indicate how you know you will achieve our goal.Key activity-based results usually begin with verbs such as launch, create, develop, deliver, build, implement, define, release, test, prepare, and plan. Where X is the baseline (where we started) and Y is the goal (what we want to achieve). An example of this would be “Launch 5 new products by the end of the year”. The objective defines what the employee wants to achieve and the key results describe how the employee will achieve the objective within a specific time frame.
It's clear that completing these key results requires a bit of business intelligence and the cooperation of several teams. So, if you could achieve your goal without completing your key results, your key results probably aren't the right milestones.However, an important difference is that the objectives of OKRs must be very aggressive, and completing key results at 100% is not as important as moving towards their completion. Don't hesitate to take the time to dig deeper and find the key results that will really matter on the path to your goal. The same is true if you feel like you can complete all your key results and still not achieve your goal.When a workplace uses OKRs, employees are encouraged to set very high goals and should document progress toward successfully achieving key results with supporting data.
This helps ensure that teams are working towards their goals in an efficient manner. It also helps ensure that teams are not wasting time on activities that do not contribute to their overall objectives.In conclusion, OKRs are an effective way for companies to set ambitious goals and track progress towards them. By setting aggressive objectives and tracking progress towards them with key results, teams can ensure they are working towards their goals in an efficient manner.